Thursday 11/01/12

This chart shows the strongest (red line) and weakest (blue line) the national average soybean basis (DTN National Soybean Index minus Chicago futures contract) has been over the last five marketing years along with the five-year average basis (purple line). As the chart indicates, the national average soybean basis of 42 cents under the November futures (green line) is 2 cents higher from last week and is now a little above the five-year average of the strongest basis. The soybean basis has firmed with higher bids in the upper and southern Mississippi River corridor after barge freight dropped late last week by as much as 100%. The recent spot demand for barge freight backed off as the soybean harvest wrapped up. The lower freight helped strengthen the basis as export business at the Gulf needs the soybeans to head south.

Corn

The national average corn basis this week of 12 cents under the December futures is still higher than the five-year average strongest basis level at this time and is unchanged from last week. The corn basis continues to stay firm as the futures have recently weakened the cash price amid strong demand for good quality corn from both ethanol plants and processors.

HRS:

The national average HRS basis for this week is unchanged from last week at 63 cents under the December futures and is in line with the five-year weakest average. The spring wheat basis was firm as demand for lower protein spot spring wheat remains steady. News from Russia last week stated that they will cease exports after November 15. If this does happen, the U.S. expects that this will open the door for fresh export business.

Mon Jan 19, 2015 12:16 PM CSTThe ongoing labor contract dispute between the Pacific Maritime Association and the International Longshore and Warehouse Union is affecting service at several West Coast ports, according to trade sources

Wed Dec 31, 2014 02:47 PM CSTRailroads are reporting fewer delays thanks to good weather and less grain movement. Meanwhile, the ongoing labor dispute in the West Coast appears to still be far from reaching a resolution.

Mon Dec 15, 2014 11:20 AM CSTLogistic issues and an ongoing labor dispute in the Pacific Northwest are affecting imports and exports of all containerized commodities, according to commodity industry representatives.

Mon Dec 1, 2014 03:39 PM CSTThe Daily Great Lakes and Seaway Shipping News has reported that ice has already started to develop on Michigan's Great Lakes. This is the earliest ice has formed on some of the Great Lakes in at least 40 years.